Exchange of information and transparency in the BEPS Action Plan: An analysis of the legal issues

International cooperation between governments on fiscal affairs and administrative transparency has a key role in counteracting the phenomena of tax evasion and tax avoidance.

Corporate Taxes, CFCs, Double Taxation, Anti-Avoidance, Withholding Taxes

Thin capitalisation rules in Brazil and international tax principles: Part I

It is common for multinational enterprises around the world to finance their associated subsidiaries in high-level tax jurisdictions through issuing debts rather than equities.

Anti-Avoidance, ROW

Thin capitalisation rules in Brazil and international tax principles: Part II

In Part I, Gabriel Magalhães Borges Prata examined Brazil’s thin capitalisation regime. He concludes this discussion here.

Anti-Avoidance, ROW

The impact of BEPS on German transfer pricing practice – practical issues and problems

The ever growing number of transactions involving MNEs over the past decade has resulted in transfer pricing becoming increasingly important.

Double Taxation, Anti-Avoidance

Russia’s ‘deoffshorisation’ rules on controlled foreign companies move closer to implementation

The Russian government has joined the ranks of a great number of other jurisdictions which are seeking to introduce mandatory reporting requirements on the unreported capital of its citizens, placed, until now, in offshore locations.

Corporate Taxes, CFCs, ROW

The ISDA 2015 Universal Resolution Stay Protocol: Novelties of the stay recognition for financial contracts

Financial contracts such as derivatives, repurchase agreements and securities lending transactions serve vital functions for financial institutions as they facilitate risk management and provide liquidity. The agreements may provide for rights to liquidate, terminate, cancel, rescind or accelerate the relevant agreement or transaction (‘default rights’) of the contract if the counterparty is in the vicinity of insolvency or insolvency proceedings are commenced against it, thereby inter alia mitigating the expected loss from the default. The termination can, however, have disastrous consequences – for example, due to the loss of aforementioned functions for the distressed financial institution. The Financial Stability Board[1] (‘FSB’) paper published on 3 November 2015 stipulates that:
Corporate Taxes, Investment and Indirect Taxes

BRICS and article 12: international tax policy implications: Part 4

In this final part, Peter Wilson concludes his discussion of Article 12. Parts 1-3 appeared in the previous three issues of ITR.

Double Taxation, ROW

Is cloud computing a challenge to the traditional concept of a permanent establishment?

The term cloud is used by the information and communication technologies (ICT) industry to indicate, primarily, virtual platforms or infrastructures that allow the execution of codes (services, applications, among others) in various forms across multiple resources, with relevant data.

Region, Europe
Corporate Taxes

Counteracting treaty abuse: BEPS Action 6 and the balance between flexibility and predictability

Adam Blakemore, Catherine Richardson and Amy Faraday consider the detail of the OECD’s Final Report on Action 6 of the BEPS project, including analysis of its stance on tax treaty abuse, the LOB provisions and interaction with EU law.
Corporate Taxes, Transfer Pricing

A bad week for tax planning

Andrew Howard comments on two recent First-tier Tribunal decisions and their potential implications for UK taxpayers.

Corporate Taxes, Anti-Avoidance

The Bulgari tax case

The following commentary details the investigation into perceived tax evasion by the Italian jeweller, Bulgari, in the context of the wider work of the Italian tax authorities and global anti-avoidance policies.

Anti-Avoidance, Europe
Double Taxation

Derivative benefits and equivalent beneficiaries – What are we talking about? Part II

In Part I, Flavia Cavalcanti Pepe and H. David Rosenbloom introduced the concept of the derivative benefits provision and related tax policy issues. Here, they continue this discussion with an exploration of the technical issues, with some working examples and comparative approaches.

Corporate Taxes, Transfer Pricing
Investment and Indirect Taxes

Investment in Colombia from an international taxation perspective: Part 2

In Part I, Sylvia H. Torres Caro discussed how Colombia attracts foreign investment and focused her discussion on legal stability agreements put in place by Colombia and other Latin American countries. She concluded by briefly discussing the role played by Colombia’s double tax treaties in securing foreign direct investment. Part II continues this discussion.

Investment and Indirect Taxes, US/Americas

Is cloud computing a challenge to the traditional concept of a permanent establishment?

Part 3

In Parts 1 and 2, which appeared in the March and April issues, Maria Cecilia Rossi discussed Cloud Computing and its interaction with the concept of permanent establishment. Here, in Part 3, she concludes her discussion.

Corporate Taxes, Practice